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For Immediate Release                    
Oct. 12, 2010
Staff Contact
Melanie Green, Communications Director
Voice (904) 394-9494, ext. 1204
Fax (904) 398-8025

NEFAR President
Carol Hill
Voice (904) 296-1906

NEFAR Announces September 2010 Real Estate Sales Figures
Pending sales up, closed sales down, sales prices weighted by lender-mediated sales, inventory being slowly absorbed. 

JACKSONVILLE, Fla. - The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for September 2010. Statistics encompass both single-family residential and condo sales.

While pending sales increased to 1,502 over last September's 1,409  - a 6.6 percent uptick - closed sales took a downward trajectory. There were 1,178 closed sales in September; a 14.5 percent decrease from last year's 1,377.

Sales prices were once again heavily weighted by the large amount of lender-mediated properties. In fact, September's 533 traditional sales were actually up 8.6 percent in price over last year's median; rising from $165,750 to $180,000. The median price for the 645 lender-mediated sales, however, dropped 23.6 percent from $110,000 to $84,000.

NEFAR President Carol Hill says, "In a repeat performance from last month, traditional home sale prices continue to show modest price increases. With lender-mediated properties dominating closed sales, however, the median price of the two types of sales combined together dropped 10.3 percent from last year, to $130,000."

Months supply of inventory decreased by 26.9 percent to 9.9 percent this September; as opposed to 13.5 months last year. A market is considered balanced where there is roughly a five- to six-month supply of homes available for purchase.

These figures, along with many others, are included in the FREE statistics packages available on the Newsroom | Market Stats tab of www.NEFAR.com. The statistics packages include a Monthly Indicators report summarizing all activity for NEFAR's entire service area plus *partial information for St. Johns County and Nassau County. Separate monthly foreclosure/short sale reports are also available on the Newsroom | Market Stats tab of the Web site.

The Northeast Florida Association of Realtors provides professional development, political advocacy, professional standards administration, media relations, and promotional activities and exchange of information among its members. NEFAR serves as the voice for real estate in northeast Florida; serving the public through efforts to protect private property rights and community affairs programs. NEFAR is Northeast Florida's largest professional association, comprising more than 5,300 members working in all facets of the real estate industry, including residential and commercial sales as well as property management. All statistics in NEFAR's Monthly Indicators and foreclosure/short sale reports are based on data compiled from NEFAR's wholly owned subsidiary, the Northeast Florida Multiple Listing Service (NEFMLS). NEFAR is headquartered in Jacksonville, with satellite Service Centers in Orange Park, Jacksonville Beach, Palatka and World Golf Village. * As all Nassau and St. Johns County Realtors are not participants of the NEFMLS; reports provided do not represent the full extent of Realtor sales in those counties. 

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